The Price of Shiba Inu Might Lose another Zero in the Short Term

Alexander Salazar
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The Price of Shiba Inu Might Lose another Zero in the Short Term

Although SHIB must maintain the USD 0.0000118 support to conquer another zero, its price might first rise to USD 0.000018. According to Shibburn, the developers burned over 3.7 billion SHIB tokens in 528 transactions, which favors its value.

In October 2021, the price of Shiba Inu (SHIB) rose to 1136% after four months of consolidation. However, a bearish cycle followed it and removed a large percentage of the gains.

The memecoin initially had significant exposure and experienced one of the most effective marketing campaigns.

Although the price of SHIB has decreased, it occupies 12th place in the cryptocurrency ranking. It is trading at around USD 0.00001206 and has accumulated a 5.2% loss over the last 24 hours, according to CoinGecko.

SHIB is undergoing a correction after it reached USD 0.000018 in early August. That relevant mark exceeded the 200-day EMA, showing the threat of a bullish trend.

Investors recently managed to drive the price of the memecoin above the 20-day EMA to USD 0.000013. However, they must break the 100-day EMA to resume the previous bullish cycle.

SHIB needs to consolidate at USD 0.000012 and not lose the USD 0.0000118 support. If that happened, the following level at USD 0.000010 might lead the memecoin to lose another zero. However, a move toward the USD 0.000014 resistance area would also take the price to USD 0.000018.

The Metaverse Drives the Shiba Inu Price Higher

Despite the bearish outlook in the crypto market, SHIB has accumulated gains of up to 7% over the last week. That rebound took place at the beginning of the trading of plots of the Shiba Metaverse. The Metaverse of this memecoin is a milestone that its community has been awaiting eagerly.

That factor has allowed the growth of social participation around the SHIB token, favoring its trading price. According to LunarCrush, Shiba Inu experienced an increase in social quests by 8.03%, while its engagement rose by 10.37%.

In addition, the SHIB community recently burned over 3.7 billion SHIB tokens, which is favorable for its price. Data from the burning tracking platform Shibburn indicate those coins burned in 528 transactions.

However, the bulls must remember that the SHIB is constantly struggling to break out of the previous consolidation zone.

The RSI indicates that Shiba Inu has exceeded the overbought areas, indicating an optimistic market. However, investors should wait a little longer. Meanwhile, the MACD has moved toward a significant breakout projection with a bullish crossing.

The Price of SHIB Might Conquer another Zero

The volume of the SHI meme coin has not increased significantly over the last few weeks. However, the capitalization of the circulating market has dropped to 18.50%.

Investors should also consider Shiba Inu is trading 85% below its market capitalization. Therefore, it needs thriving developments for the community to expect the Shiba Inu price to conquer another zero.

Considering this decrease in the price, only 28% of SHIB investors have profited, while 66% have suffered losses. The rest of the buyers have a balance regarding their profits and losses.

By Alexander Salazar

F2pool to Stop Mining Ethereum (ETH) after Merger

Audy Castañeda
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F2pool to Stop Mining Ethereum (ETH) after Merger

With the end of Ethereum mining, miners are turning to other cryptocurrencies.

F2pool has announced that it will stop mining Ethereum (ETH) after the Network Meltdown occurs. Other mining pools are also taking steps to prepare for the change.

The F2pool mining pool has provided an update on when it will end the Ethereum mining process. He announced on September 7 that the pool will work until the Merge occurs, which is expected between September 10 and 20.

The following is announced on the official blog of the Ethereum Foundation:

“The Merger is a two-step process. The first step is an update to the network, Bellatrix, at the consensus layer triggered by an epoch height. This is followed by the transition of the execution layer from Proof-of-Work to Proof-of-Stake, Paris, triggered by a specific total difficulty threshold called Total Terminal Difficulty (TTD).”

Ethereum miners in F2pool will receive their ETH balance after the Merger ends.

F2pool acknowledged the arrival of Proof-of-Stake on Ethereum but also pointed out the important role that miners have played over the years. Faced with the imminent transition to PoS, the mining pool noted the following:

“Whether it supports the Ether fork or not is no longer important. We will let the mining community decide. However, we recognize that the ETH PoW era is coming to an end, and let us move on to the new PoS Era.”

The Merge is one of the biggest changes Ethereum has ever experienced and is highly anticipated among many crypto experts and enthusiasts. As such, many companies are preparing for the transition.

Following the Merger, Ethereum will move from a Proof-of-Work consensus mechanism to Proof-of-Stake, after which miners will be replaced by ETH stakers who will perform network validation.

Mining Companies Make Decisions about the Future

Meanwhile, other mining pools are also taking action in the lead-up to the Merger. However, the decisions they have to make are difficult as they must reorganize resources.

For example, Hive Blockchain Technologies is looking to optimize 6.5 Terahashes of ETH mining capacity. Instead, you can look to mine ETC and ETHPoW.

In the meantime, Hut8 will look to focus on machine learning, Artificial Intelligence, and other service delivery.

Cryptocurrency platforms are also taking precautions for the Merger. Aave, for example, has capped ETH lending to avoid trouble for liquidators.

Ethereum Miners Are Considering Other Crypto Assets

The move from Ethereum to PoS means that miners have to make decisions about where to spend their resources. It appears that most miners will turn to mine other crypto assets, which in turn will increase the difficulty of those coins and reduce profitability.

As for the assets they could mine, Bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash seem like the most likely options. However, Monero, Zcash, and Ravencoin are also available options.

In addition to being more environmentally sustainable than the energy-costing Proof-of-Work (PoW) consensus mechanism, crypto investors expect to see other positive returns from the benefits of transitioning to PoS.

However, fully upgrading a Blockchain protocol, amid continued heavy usage, with an estimated 1.3 million daily transactions, across more than 3,400 active distributed applications, remains a very risky prospect.

By Audy Castaneda

Technical Analysis of the Bitcoin Price for Novice Investors

Alexander Salazar
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Technical Analysis of the Bitcoin Price for Novice Investors

The price trends and patterns appearing on charts allow technical analysts to predict whether they might continue or reverse. The upcoming price behavior will be crucial for BTC, whose downward trend indicates a limited upside potential.

Cryptocurrencies are examples of a free market driven by supply and demand, as access is easy and information is available. That adds to human emotions like fear and greed to make those assets well suited for technical analysis.

In the stock market, fundamental analysts assess external factors like revenue, selling prices, and cost of goods that may affect the price. If the shares of a company traded below what they believe to be a fair value, it would be interesting to buy them.

Factors like the background of a specific cryptocurrency and the number of newly-mined and freely-traded coins help fundamental analysts determine its intrinsic value.

Technical analysts determine the profit or loss of an asset through the price an investor buys and sells. In addition, the trading activity in the market allows estimating the value.

Fear and Greed Guide the Behavior of Cryptocurrency Investors

External factors like news influence investors, as they always lead investors to review the price of the associated or related stock.

Cryptocurrencies have frequently been in the news, driving prices higher and creating a sentiment known as FOMO (fear of missing out). There have also been stories about regulations or countries banning cryptocurrency mining and trading that have affected prices negatively.

These events cause much excitement and drive buying and selling decisions. This buying and selling process creates trends that appear on the charts, which allows doing technical analysis.

Technical Analysis of the Price of Bitcoin

Technical analysts use charts to find price trends and try to predict whether they might continue or reverse. However, they also use subjective interpretations about specific tendencies and patterns appearing on the graphs.

The highs and lows on a chart contain crucial information, as they usually act as support or resistance levels. It is much easier to read a chart when translating support to demand and resistance to supply.

Technicians define an upward trend as a series of higher highs and higher lows contrary to a downward trend. Old highs and lows act as support (below the current market price) or resistance (above the current market price).

Prediction of the Price of Bitcoin

In March-April 2021, the Bitcoin price reached a high in the USD 65,000 area before pulling back below USD 30,000. The rally from the low of July 21st drove BTC higher, allowing it to reach the former level again in November.

Sellers dominated the market and could not push the price of BTC above USD 65,000. That additional supply created much resistance, causing a new spike at that level. Traders then started to take Bitcoin lower again until it hit the areas of the previous low below USD 30,000.

There was some hesitation when that old low started to act as support, attracting buyers. However, that lasted little as BTC broke below its support at around USD 30,000 in June 2022.

The price behavior in the coming weeks will be crucial for the short-term development of BTC. The most prominent trend is downward, which indicates a limited upside potential due to previous selling activity.

By Alexander Salazar

FTX CEO Defends On-Chain Social Networks

Audy Castañeda
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FTX CEO Defends On-Chain Social Networks

Sam Bankman-Fried stressed that if the elections were on chain, you could have verifiable messages on social media.

The CEO of the FTX exchange, Sam Bankman-Fried, spoke in favor of the existence of on-chain social networks and even believes that they offer some benefits for users, such as verifying the authenticity of certain data, among other positive aspects.

Sam Bankman-Fried explained the following on his social networks:

“A cool on-chain social media app: On-message verification, if social media posts were on-chain, you could have the Blockchain operating inside a tweet. There would be ways to send messages like: The winner of the protocol governance vote is {xyz}, where {xyz} was a reference to an actual on-chain smart contract, _combined with its value.”

Bankman-Fried Further Explanation

In recent days, Sam Bankman-Fried explained that his recent investments in crypto companies have not been entirely positive, with some turning out profitable and others not, with Voyager Digital being the most obvious loss, as SBF fund Alameda Research, loaned Voyager $485 million and ultimately filed for bankruptcy.

“Mixed, is basically the answer. I think some are going to be profitable, others are not. With Voyager, there is 70 million dollars that we invested and I am not sure that we will see it again. We had to make quick decisions and we made them in such a way that if things went well, they would be good investments. If they turned out badly, they would be bad investments, but we kind of limited how much we could lose.”

SBF Considers that the Blockchain Would Improve Social Networks

For SBF, if the tweets were backed by a Blockchain, there would be ways to send messages, governance votes, with “xyz” protocols through real chain smart contracts, which would facilitate the verification and elimination of bots or incorrect information.

Bankman-Fried stressed that if the elections were on chain, you could have verifiable messages on social media. He even argues that if Amazon shares (AMZN) were tokenized, anything that can be calculated would be “embedded” in the messages and automatically verified.

On Twitter, SBF posted a number of statements, such as:

“6) And in general, anything that a Blockchain can compute, basically anything that a computer program that has access to all the other data on the Blockchain can compute, can be embedded in your message. It would be self-testing and automatically verified as accurate (or not!).”

In July, Sam Bankman-Fried identified other use cases for the crypto industry, aside from its use as a speculative financial investment tool. According to SBF, it will ignore the popular phrase from investors that “you can buy tokens and maybe they will go up” and focus on their potential use in payments, market structure, and social media.

On the structure of the market, SBF has said that traditional markets are at risk of being overwhelmed by transactions. He cited the example of January 28, 2021, when retail interest in Gamestop, AMC, and meme cryptocurrencies increased exponentially.

By Audy Castaneda

Game of Thrones Designers Launch NFT Collection and Play to Earn Game

Audy Castañeda
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Game of Thrones Designers Launch NFT Collection and Play to Earn Game

Freakzz aims to revive the essence of a classic video game, incorporating it into the new Internet, Web3. This new game will hit the market with a collection of 9,999 NFTs.

Leonardo Viti, Anthony Sieben, and Tom Nicolas Herzig are recognized for having worked on ‘Game of Thrones’ and have now embarked on a new project with Freakzz, a game with their own NFT collection.

The designers of the famous television series, Game of Thrones, have embarked on a new project to transport gamers and NFTs to a new dimension. This is Freakzz, a project that uses the Ethereum Blockchain, and that will hit the market with a collection of 9,999 NFTs.

Leonardo Viti, Anthony Sieben, and Tom Nicolas Herzig, who have also worked on Disney and Marvel films, designed a series of humanoid creatures with unique 3D style and detail. According to an official statement, Freakzz’s non-fungible token collection will include characters such as zombies, aliens, ghosts, and vampires.

The Goal of Freakzz, a new Play-to-Earn Game

Freakzz aims to revive the essence of a classic video game, incorporating it into the new Internet, Web 3.0. The idea of ​​the Play-to-Earn game is that players can access the title from any browser, choose the character they want, and attack their enemies by casting spells. The winner will be the last one left alive.

Alex Huertas, CEO of Freakzz, is a Spanish businessman who believes that the world is currently in a transition towards the new Web 3.0 technology.

“These new technologies are changing the way video games are used and now allow players to earn assets that can be converted into real money. In the Freakzz game, winners are rewarded in stablecoin, also represented as tokens.

The tokens that Freakzz players are rewarded with can be used to purchase assets, such as character upgrade items.

A Play-to-Earn and Play-For-Fun game

The creators of Freakzz wanted to develop a game that is not only aimed at lovers of Play-to-Earn titles. For this reason, they ensure that Freakzz also has a free Play-For-Fun version, in which players can choose their favorite Freak and try to defeat all the enemies on the battlefield.

In addition, under this modality, players will have the opportunity to compete in a unique weekly tournament, where the top ten will be rewarded with Stablecoins.

More on Crypto Games

According to a survey conducted by Finder.com, a Mexican comparison platform, and independent information services, Brazil is the Latin American country with the highest adoption of non-fungible tokens (NFT) and users of crypto games.

In Brazil, more than 17.5% of respondents have entered the crypto gaming industry, while 11.8% indicated that they hope to join this industry in the future.

Peru also stood out as one of the great Latin American exponents of the crypto game industry, with an adoption of more than 13%, which they hope to increase to 29% soon, which represents a growth of more than 100%. Not bad for a country where cryptocurrencies lack regulation.

In the Finder survey, it can be seen that the crypto gaming industry has not stopped growing, even as the coins of many top games like Axie Infinity have fallen exponentially along with the crypto market.

By Audy Castaneda

An Analyst Predicts the Prices of ADA, XRP, EOS, LTC, and ATOM for the Short Term

Alexander Salazar
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An Analyst Predicts the Prices of ADA, XRP, EOS, LTC, and ATOM for the Short Term

While ADA might reach between USD 0.55 and USD 0.75 after the Cardano upgrade, XRP might experience a breakout against Bitcoin. EOS might move toward USD 1.35 before reaching USD 2, but ATOM might head toward USD 18 if it holds above USD11.

While the community awaits the upcoming upgrade of Cardano, renowned analyst Michael van de Poppe says this could lead ADA to new highs.

The Analyst Predicts that the ADA Price Will Increase

The expert predicts that Cardano (ADA) could reach between USD 0.55 and USD 0.75, levels not seen since February. The upgrade scheduled for September might cause an increase in the price.

ADA is trading at around USD 0.501006 and has accumulated a 2.9% gain over the last 24 hours. While its daily trading volume is above USD 679.31 million, its market capitalization is about USD 16.92 billion, According to CoinGecko.

Van de Poppe Forecasts a Rise in the XRP Price

According to Michael van de Poppe, the price of Ripple (XRP) might experience a breakout against Bitcoin (BTC). He also believes that XRP will rise above 0.000017 BTC and hit a target of 0.000022 BTC.

XRP is trading at around USD 0.336422 and has accumulated a 3.6% gain over the last 24 hours. While its daily trading volume is above USD 946.45 million, its market capitalization is about USD 16.68 billion, according to CoinGecko.

The EOS Price Might Reach USD 1.35 before Hitting USD 2

The strategist thinks the smart contract protocol EOS (EOS) will move toward the USD 1.35 support before hitting USD 2. He recommends that his followers remain firm, as there is always a new test in a market correction.

EOS is trading at around USD worth USD 1.54 and has accumulated a 6.6% gain over the last 24 hours. While its daily trading volume is above USD 389.13, its market capitalization is about USD 1.55 billion, according to CoinGecko.

The Strategist Thinks LTC Will Suffer a Pullback before Rising

Van de Poppe expects open source software project Litecoin (LTC) to suffer a slight pullback before rising by 35%. He says that it has launched a 50-day MA as it holds above USD 59 to reclaim the USD 80 area.

LTC is trading at around USD 60.06 and has accumulated a 03% loss over the last 24 hours. While its daily trading volume is above USD 405.44 million, its market capitalization is about USD 4.25 billion, according to CoinGecko.

The Value of ATOM Might Break above the USD 11 Support

According to the specialist, the price of Cosmos Hub (ATOM) seems bullish unless it breaks above USD 11. He predicts the crypto asset will head toward the USD 17 and USD 18 levels if it holds above that area.

ATOM is trading at around USD 12.52 and has accumulated a 2.5% loss over the last 24 hours. While its daily trading volume is above USD 288.02, its market capitalization is about USD 3.65 billion, according to CoinGecko.

By Alexander Salazar

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